EverBank to Acquire WaFd in $3.9 Billion Reverse Merger
EverBank and WaFd said Monday they have agreed to combine in a transaction structured as a reverse merger, according to the companies.
EverBank has agreed to acquire WaFd, a smaller bank based in the Pacific Northwest, in a $3.9 billion reverse merger transaction, the companies said on Monday, according to CNBC.
The deal, structured as a reverse merger, would combine the two banking institutions, though specific details on the structure, timeline, and regulatory approvals required for the transaction were not immediately available in the initial announcement.
EverBank and WaFd did not provide further details beyond confirming the agreement and the transaction value in their joint statement on Monday, CNBC reported.
This is a developing story and additional details may emerge as the companies release more information about the merger.
Sources
- EverBank to combine with WaFd in $3.9 billion reverse merger — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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